Nabors Industries (NYSE:NBR) Receives Underweight Rating from Barclays

Nabors Industries (NYSE:NBR - Get Free Report)'s stock had its "underweight" rating reiterated by equities research analysts at Barclays in a report released on Monday,Benzinga reports. They presently have a $28.00 price objective on the oil and gas company's stock, down from their previous price objective of $53.00. Barclays's target price would indicate a potential downside of 6.31% from the company's previous close.

A number of other research firms also recently weighed in on NBR. Citigroup cut their target price on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley dropped their price target on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday. Susquehanna dropped their price target on Nabors Industries from $32.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Royal Bank of Canada dropped their price target on Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Nabors Industries has a consensus rating of "Hold" and an average price target of $45.83.

Nabors Industries Stock Performance

NBR opened at $29.89 on Monday. The company has a market capitalization of $469.23 million, a price-to-earnings ratio of -1.34 and a beta of 1.96. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. Nabors Industries has a 1-year low of $25.11 and a 1-year high of $105.96. The business has a 50 day moving average price of $33.57 and a two-hundred day moving average price of $51.15.

Nabors Industries (NYSE:NBR - Get Free Report) last released its earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share for the quarter, missing analysts' consensus estimates of ($2.64) by ($4.86). The firm had revenue of $742.78 million during the quarter, compared to analyst estimates of $706.49 million. Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. The business's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company earned ($4.54) earnings per share. Research analysts predict that Nabors Industries will post -6.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

Large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new stake in Nabors Industries during the fourth quarter valued at about $36,000. US Bancorp DE lifted its stake in shares of Nabors Industries by 234.9% in the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock valued at $41,000 after buying an additional 505 shares during the period. GAMMA Investing LLC lifted its stake in Nabors Industries by 520.2% during the first quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company's stock worth $45,000 after purchasing an additional 900 shares during the period. Russell Investments Group Ltd. lifted its stake in Nabors Industries by 3,866.7% during the first quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company's stock worth $55,000 after purchasing an additional 1,276 shares during the period. Finally, R Squared Ltd bought a new position in Nabors Industries during the fourth quarter worth about $70,000. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.

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